According to the Daily Mail, the Scuderia are ready to offer Hamilton a contract worth £40m a year (around $50m at current exchange rates). Negotiations are said to be taking place at a “high level”, and “Ferrari” chairman John Elkann is in “close contact” with Hamilton.
Several British and Italian sources familiar with the situation say Ferrari is considering two options with Hamilton. The preferred option would be to pair Lewis with Charles Leclerc for next season. In this case, Carlos Sainz will leave the team.
Bottas: Hamilton is still the fastest Formula 1 driver
The second option is to get rid of Leclerc in favor of Hamilton. Then Lewis will partner with Carlos and Charles will go to Mercedes, where he will perform with George Russell.
According to the British publication, the question of money will not be decisive for Hamilton, as Mercedes and Ferrari are ready to offer him equal sums – around 50 million dollars or more.
However, the key factor could be a Mercedes refresh at the Monaco Grand Prix this weekend: if the German team closes the gap to Red Bull then Hamilton is more likely to stay at Brackley.
Source: Sport

I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.